Investment in Catalonia's real estate sector could rise to 3.6 billion euros by the end of 2022. This figure is in line with the figure reached in the same period last year, according to data from CBRE.
"In 2019 we surpassed the €3 billion investment barrier for the first time and, with these figures, Barcelona entered the first European division. In 2021, this market exceeded 3.5 billion euros and this year we will reach this figure again, demonstrating the consolidation of this trend," said Xavier Güell, Head of CBRE Barcelona.
The Office sector will lead the investment, with a weight of around 30% and 1,100 million euros. This figure is below the €1.7 billion recorded in 2021, an exceptional year for this market, but it is still one of the best figures in the historical series.
The second sector that will have received the most investment in the last year was Living, with a total of 970 million euros, 28% of the total investment in Catalonia. The investment registered this year has increased by 163% compared to 2021 and has reached an all-time record, positioning itself above the values prior to the pandemic. The Industrial & Logistics sector will be the third largest segment by investment volume in Catalonia in 2022, with more than €670 million, 139% more than in 2021, and 19% of total investment. "The Living and Industrial sectors have performed exceptionally well in 2022," explained Güell.
Within the total investment in the real estate sector in Catalonia, the Retail segment will represent around 11% of the investment, followed by Hotels (7%) and alternative assets such as student and senior citizen residences (3%).
"We are at the end of the year, but also at the end of a cycle. As in any period of change, a process of adaptation to the new reality is required. In the last few years we have lived in a period of abnormality, where obtaining money has been free of cost and where inflation has been very low to zero. Now we will experience adjustments that will lead us to a change of scenario, but this will not necessarily be worse", explained the Head of CBRE Barcelona.
"The change in the macroeconomic scenario, with rising interest rates and inflation, has led to a slowdown in investment from September this year. However, the existence of liquidity in the market means that investment activity is expected to pick up again next year. The first quarter of 2023 will continue to see caution on the part of investors. Activity will gradually resume in the second quarter and in the second half of the year we will probably see a certain normalisation of investment activity", concluded Xavier Güell.
